USD/ZAR Trading Analysis (17/01/2025)
The trend is ascending. The currency pair is trading in a range between 365 and 135 ЕМАs on the H1 timeframe. The downtrend wave structure is truncated. There is a bullish divergence on the Awesome Oscillator.
Trade idea:
- Buy when the formation of the ascending wave structure begins, when the wave A breaches the sloping channel of the descending truncated structure.
- Stop-loss at 18.70470.
- Price targets at 18.9920 and 19.2000.
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